ACV Auctions Inc. (NASDAQ:ACVA) Insider Michael Waterman Sells 30,162 Shares

ACV Auctions Inc. (NASDAQ:ACVA) insider Michael Waterman sold 30,162 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total value of $619,225.86. Following the completion of the transaction, the insider now directly owns 314,738 shares of the company’s stock, valued at $6,461,571.14. This represents a 8.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Michael Waterman also recently made the following trade(s):

• On Tuesday, October 15th, Michael Waterman sold 18,001 shares of ACV Auctions stock. The stock was sold at an average price of $18.79, for a total transaction of $338,238.79.

ACV Auctions Price Performance

Shares of NASDAQ ACVA opened at $20.75 on Friday. The firm has a market capitalization of $3.48 billion, a P/E ratio of -44.15 and a beta of 1.69. The firm’s 50-day moving average price is $21.26 and its 200-day moving average price is $19.42. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. ACV Auctions Inc. has a 1-year low of $12.84 and a 1-year high of $23.46.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. B. Riley boosted their price objective on shares of ACV Auctions from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Raymond James started coverage on ACV Auctions in a research note on Friday, September 27th. They issued a “market perform” rating and a $22.00 price target for the company. Jefferies Financial Group lifted their price objective on ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Piper Sandler increased their target price on shares of ACV Auctions from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Citigroup boosted their price target on shares of ACV Auctions from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in shares of ACV Auctions by 47.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,758,163 shares of the company’s stock valued at $141,586,000 after acquiring an additional 2,502,064 shares in the last quarter. Spyglass Capital Management LLC increased its stake in ACV Auctions by 69.1% during the 3rd quarter. Spyglass Capital Management LLC now owns 2,614,245 shares of the company’s stock valued at $53,148,000 after purchasing an additional 1,068,356 shares in the last quarter. Wellington Management Group LLP acquired a new position in ACV Auctions during the third quarter worth $21,540,000. Driehaus Capital Management LLC lifted its stake in shares of ACV Auctions by 48.0% in the second quarter. Driehaus Capital Management LLC now owns 1,232,238 shares of the company’s stock valued at $22,488,000 after buying an additional 399,402 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of ACV Auctions by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 3,167,615 shares of the company’s stock valued at $64,398,000 after buying an additional 311,465 shares during the last quarter. 88.55% of the stock is owned by institutional investors and hedge funds.

ACV Auctions Company Profile

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company’s marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green’s seller assurance service for against claims related to defects in the vehicle.